Nexans SA Correlations

NEXNY Stock

USD 56.45 0.31 0.55%

The current 90-days correlation between Nexans SA and Hayward Holdings is -0.04 (i.e., Good diversification). The correlation of Nexans SA is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak. If the correlation is 0, the equities are not correlated; they are entirely random.

Nexans SA Correlation With Market

Significant diversification

The correlation between Nexans SA and DJI is 0.07 (i.e., Significant diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nexans SA and DJI in the same portfolio, assuming nothing else is changed.

The ability to find closely correlated positions to Nexans SA could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Nexans SA when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Nexans SA - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Nexans SA to buy it.

Moving together with Nexans Pink Sheet

0.89	LGRDY	Legrand SA ADR	Pair Corr
0.77	LGRVF	Legrand SA	Pair Corr
0.69	PKX	POSCO Holdings	Pair Corr

Moving against Nexans Pink Sheet

0.48	MIELY	Mitsubishi Electric Corp	Pair Corr
0.47	2457	Phihong Technology	Pair Corr
0.39	MIELF	Mitsubishi Electric	Pair Corr
0.31	VRT	Vertiv Holdings	Pair Corr
0.75	CQP	Cheniere Energy Partners	Pair Corr
0.64	IONQ	IONQ Inc	Pair Corr
0.63	AXON	Axon Enterprise	Pair Corr
0.6	NDAQ	Nasdaq Inc	Pair Corr
0.41	CHH	Choice Hotels Intern	Pair Corr
0.31	PDYN	Palladyne AI Corp Symbol Change	Pair Corr

Related Correlations Analysis

	NVX	NHHHF	FLUX	NEOV	ESP	HAYW	AEIS
NVX		-0.35	-0.41	0.38	0.76	0.53	0.7	NVX
NHHHF	-0.35		0.63	-0.65	-0.35	-0.51	-0.57	NHHHF
FLUX	-0.41	0.63		-0.9	-0.44	-0.72	-0.61	FLUX
NEOV	0.38	-0.65	-0.9		0.3	0.58	0.54	NEOV
ESP	0.76	-0.35	-0.44	0.3		0.69	0.74	ESP
HAYW	0.53	-0.51	-0.72	0.58	0.69		0.86	HAYW
AEIS	0.7	-0.57	-0.61	0.54	0.74	0.86		AEIS
	NVX	NHHHF	FLUX	NEOV	ESP	HAYW	AEIS

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

AEIS	+ 0.86	HAYW
ESP	+ 0.76	NVX
AEIS	+ 0.74	ESP
AEIS	+ 0.7	NVX
HAYW	+ 0.69	ESP
FLUX	+ 0.63	NHHHF

High negative correlations

NEOV	- 0.9	FLUX
HAYW	- 0.72	FLUX
NEOV	- 0.65	NHHHF
AEIS	- 0.61	FLUX
AEIS	- 0.57	NHHHF
HAYW	- 0.51	NHHHF

Risk-Adjusted Indicators

There is a big difference between Nexans Pink Sheet performing well and Nexans SA Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nexans SA's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
NVX	5.20	0.22	0.09	0.17	5.45	(7.25)	16.33	(7.11)	39.38
NHHHF	6.70	1.27	0.03	(0.41)	9.21	(28.62)	21.95	(33.33)	83.33
FLUX	3.42	(1.19)	0.00	(0.53)	0.00	0.00	7.14	(7.98)	24.30
NEOV	4.52	1.27	0.21	(2.97)	4.63	(5.13)	11.11	(7.32)	21.90
ESP	2.25	0.44	0.18	0.66	1.92	(2.68)	4.93	(3.29)	26.01
HAYW	1.32	0.07	0.02	0.24	1.30	(1.60)	4.10	(2.23)	7.98
AEIS	1.49	(0.12)	(0.01)	0.05	1.95	(1.55)	3.85	(2.91)	8.30

Be your own money manager

Our tools can tell you how much better you can do entering a position in Nexans SA without increasing your portfolio risk or giving up the expected return. As an individual investor, you need to find a reliable way to track all your investment portfolios. However, your requirements will often be based on how much of the process you decide to do yourself. In addition to allowing all investors analytical transparency into all their portfolios, our tools can evaluate risk-adjusted returns of your individual positions relative to your overall portfolio.

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Nexans SA Corporate Management

Antonino Cusimano	Gen VP	Profile
JeanChristophe Juillard	Deputy VP	Profile
Aurelia BaudeyVignaud	Head Relations	Profile
Marc Mertens	Exec Group	Profile
Maria Fraguas	Sr Officer	Profile

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